Canada Increases Minimum Proof Of Funds For Express Entry Programs In 2025
On July 7, 2025, Immigration, Refugees and Citizenship Canada (IRCC) updated the required proof of funds for candidates applying for permanent residence (PR) through the Express Entry system.
This is the minimum amount of money that applicants need to prove they have, to ensure they can settle down when they first arrive in Canada without having a job right away.
Affected programs
This update applies to applicants under the following two programs:
- Federal Skilled Worker Program (FSWP) – Chương trình lao động tay nghề cao liên bang
- Federal Skilled Trades Program (FSTP) – Chương trình lao động kỹ năng tay nghề liên bang
Candidates need to update financial information in their Express Entry profile before 28/7/2025 to continue to be eligible for consideration.
New financial proof level from 7/7/2025
| Number of Family members | New Required Amount (CAD) | Previous level (from 3/6/2024 – 7/7/2025) |
| 1 (applicant only) | 15,263 | 14,690 |
| 2 | 19,001 | 18,288 |
| 3 | 23,360 | 22,483 |
| 4 | 28,362 | 27,297 |
| 5 | 32,168 | 30,690 |
| 6 | 36,280 | 34,917 |
| 7 | 40,392 | 38,875 |
| Each person added (over 7) | +4,112 | +3,958 |
Note: Canada updates this level each year based on 50% of the Low Income Cut-Off (LICO) published by Statistics Canada.
Who does NOT need to provide proof of funds?
Applicants do not need to submit financial proof if they fall into one of the following two cases:
- Applying under the Canadian Experience Class (CEC) program
- Have a valid job offer and be authorized to work in Canada, whether applying under FSWP or FSTP
However, IRCC recommends that financial information is still updated as the system may assess an applicant as eligible for multiple programs at the same time.
Applicants who do not need to submit financial evidence must still submit a letter of explanation, stating that:
- They have been invited to apply under the CEC; or
- They have a valid job offer and are authorized to work in Canada.
Who counts in family size?
Family size includes:
- Primary applicant
- Spouse or common-law partner
- Applicant's dependent children
- Dependent children of spouse or partner
- Dependent of dependent children
Note: The above members must still be included in the application whether they are Canadian citizens/permanent residents or not traveling to Canada together.
What documents are accepted as proof of funds?
Confirmation letter from bank or financial institution is valid evidence. The letter must:
- Printed on financial institution letterhead
- Include contact information (address, phone number, email)
- Specify the name of the account owner
- List outstanding debts (if any)
- List each existing account in detail:
- Account number
- Account opening date
- Current balance
- Average balance for the last 6 months
Unacceptable items:
- Real estate asset value
- Borrow money from friends/relatives
- Account in someone else's name (if unable to prove right of use)
Joint accounts with a spouse are counted, but if the account is in the spouse's name only, proof that the applicant has access to the funds is required.
Notes when preparing Express Entry profile
Express Entry is the Canadian government's immigration application management system, used for federal economic programs such as:
- Federal Skilled Worker Program
- Federal Skilled Trades Program
- Canadian Experience Class
Each year, the system issues more than 100,000 Invitations to Apply (ITAs) to high-scoring candidates.
Conclusion
If you are planning to immigrate to Canada through Express Entry, make sure you have updated your financial evidence and can provide appropriate documentation.
Missing or incorrectly updated financial information can result in your application being deemed ineligible, even if you have a high score in the system.
If you need assistance in preparing your application or checking your Canadian immigration conditions, please contact our team of consultants at TTN immigration for detailed advice and the latest policy updates.
